Are you stretched between insurance claims management and the leg work in today's competitive insurance landscape? Believe it or not, customer satisfaction is considered a touchstone when it comes to finding success in business and ensuring future growth. A good insurance claims management and claims experience for customers is proven to have a direct correlation with better customer retention and better brand awareness.
At Flatworld Solutions, we recognize that claims handling is extremely important for our clients and that many international insurers are on the lookout to outsource insurance claims management for property and casualty because of dwindling sales and tight hours. By combining our digital-first approach with an intensive understanding of insurance claims management, we have transformed the claim process for thousands of clients in the past 20 years.
Insurance Claims Management for Property and Casualty Services We Offer
The insurance industry is undergoing a massive transformation owing to frequent disruptions caused by technology. The change in customer behavior, regulations, technology, and distribution models are further complicating the atmosphere. As a result, property insurance claims management is getting tougher, as climbing interest rates, global climate-based catastrophes, and an uncertain economic atmosphere further complicate things for insurers.
Our responsive approach towards insurance claims management is inclined to help insurance carriers streamline their process while benefiting greatly from our end-to-end approach consisting of modular offerings that target a smarter claims approach. Our P and C back office solutions include -
FNOL and Fast-tracking Claims Services
Our digital tools ensure you can free up loss-inducing resources and keep your customers happy at the same time. Most insurers have aging FNOL processes which cost a lot of money that easily exceeds $1 million for every 100,000 claims. Besides, highly skilled adjusters also spend the majority of their time handling low-complexity claims.
Our FNOL and fast-tracking claim services have the following differentiators to set them apart -
- We can set up dedicated workflow systems to handle claim set-up, fast-tracking claims based upon complexity, and easy segmentation
- Omni-channel claims intake options and numerous self-service tools ensure your customers can process part of the claim themselves, ensuring better satisfaction
- Our workflow systems have embedded analytics tools to detect fraud early and help to improve claims segmentation
- From claim set up to segmentation, validation, estimation, assignment to field contractors, and final payment, everything can be handled in house
Triage Analytics for Better Property Claims Segmentation
Our claims workflow consists of AI-based embedded models which deliver real-time complexity scores and automates the allocation of claims based on several pre-assigned variables. Our analytics platform can easily analyze claims and recognize patterns over time for similar historical claims, ensuring you are always ready to settle claims which are the most important in the shortest possible time. We route the lowest complexity claims directly for straight-through payments, thereby considerably reducing your workload while ensuring the highest skilled adjusters work on the most complex claims.
Content and Inventory Services
We have a team of expert content advisers who can manage inventories for property insurers right from the compilation, to evaluation, and then fulfillment. They can also easily sync with your field advisers at the loss site to compile the inventory of lost and damaged goods as accurately as possible. Our content and inventory services have the following differentiators to set them apart -
- We work with the insured to capture all essentials such as documentation and photos while ensuring that a comprehensive list is maintained and shared for easier claims
- Our database maintains and captures all data accurately so claim reporting and analytics are easily performed
- We also offer complete post claim support that includes receipt reconciliation and computing holdback calculations
Managed Repairs Services
With the help of our managed repairs services, we can help you better your customer service and help you deliver easily on your property claims promises. We cover all forms of property loss and ensure speed and convenience is prioritized at all times for enhanced customer satisfaction while reducing costs for you. Our managed repairs services have the following differentiators to set them apart -
- We help to put the insured customers in touch with licensed repair vendors who cover everything from structural repairs, roofing, flooring, water mitigation, board ups, etc.
- We work with your adjusters to complete quality assurance reviews to ensure the estimate guidelines are met for the customers
- Our online claim backend portal provides real-time updates into claim status and performance as well
Fraud Analytics Services
Our in-depth claims fraud analytics services leverage predictive modeling to identify, score, and prioritize all probable cases of fraud to prevent them from happening. In the US, insurance fraud costs insurers more than $32 billion a year, and our ability to detect, investigate, and prevent these fraud cases from occurring makes us indispensable for modern insurers. Our fraud analytics services have the following differentiators to set them apart -
- Our advanced analytics-based platform runs all suspicious claims through different financial risk models
- Our team of triage analysts review the data and refer cases assigned with the highest risk score and then forward it to your SIU team
- We constantly use rejected but scored claims to improve our models for better accuracy
Insurance Software we use
Apart from the above, we also offer the following services -
The Insurance Claims Management Process We follow
Our fluid process coupled with excellent transparency will clear the cloud around insurance claims management for property and casualty. This is because we aim to bring you the service you can trust with utmost accountability. Here is the process behind insurance claims management -
01. Requirement Collection
With taut communication, we will acquire information from your end to understand your concerns and business in a better perspective
02. Insurance Claims Management Service Customization
Our project heads will scrutinize document availability and the furnished data to determine how the service can be customized for better results
03. Plan Execution
Our contact center agents will directly engage your customers by representing your business while efficiently handling the insurance claims management process
04. Reporting and Optimization
At planned intervals, you will be sent a customized report on the project. This is to provide you accurate insights and for us, it serves as a tool to optimize the service, if needed
Other Services You Can Benefit From
Why Should You Outsource Property and Casualty Insurance Claims Management to FWS?
Over the years, we have worked with several international clients to enhance property insurance claims management in residential and commercial properties. Our team is dedicated to adding value to your existing processes by enhancing your core capabilities while providing exceptional customer service. Some of our key differentiators include -
Certified Insurance Customer Services Company
By outsourcing your requirements for insurance claims management, you stand to improve the overall efficacy and efficiency of your processes. All our processes are compliant with state, federal, and all industry-wide regulations. Therefore, we are ISO 9001:2013 accredited.
Exceptional Data Security
We provide end-to-end services across the insurance value chain under one single roof, ensuring all your requirements are met within the best possible manner. Your client's data involved in the process is handled with care to prevent mismanagement or tort. Therefore, our secure handling of digital data has earned us ISO/IEC 27001:2022 accreditation.
High Collaboration and Quality Service
Our automated claim ID generation and archival process ensure significant enhancement in customer satisfaction ratios. Our customized platforms, resources, and custom dashboards further ensure you are always aware of the requirements of the business and can make better business decisions.
Quick Turnaround Time
Exceptionally better customer satisfaction and fast turnaround time can be experienced by partnering with FWS because we are already acquainted with tight deadlines and have experience and the necessary skills to close the gap in the service timeline.
Flexible & Scalable Processes
As risks increase due to more frequent natural disasters and terrorism, insurers around the world face a lot of cost pressure while dealing with a significant number of claims. By outsourcing the requirements to us you can avail scalable services that can handle any challenge in your business.
With the help of automation and AI, we drastically reduce processing times for claims adjudication, FNOL assessment, claims subrogation, claims payments, etc. It is our specialty in offering scalable insurance claims management for property and casualty that can be customized to your budget and preference so that nothing extra is spent.
With our cost-effective insurance claims management for property and casualty solution, we can help you can reduce up to 50% of the costs of claims processing while achieving financial accuracy rates of 99.7%.
Single Point of Contact
We will provide a fixed agent who will be dedicated to each project until it is signed off. This is to ensure that you get a personalized and fast response without having to wait.
Highly Skilled Insurance Customer Service Agents
We have a team of knowledgeable customer care agents who come with over a decade of experience in the insurance sector. Our agents ranging from 800 to 1000 can support your needs no matter small or big.
Infrastructure and Technology Advantage
Our high-end infrastructure and expertise in claims processing is second to none, and our services have been proven to reduce overhead costs and increase productivity across the board.
Secure Data Exchange
Sharing data is fast and secure because we have adopted SFTP and VPN transfer of data. This cuts the risk associated with data vulnerability during the sharing process.
We are available round-the-clock to handle any concerns you face because our contact centers stay operational 24/7 all around the year. So, when you outsource insurance claims management for property and casualty you are guaranteed 100% satisfaction.
Client Success Stories
FWS Provided Policy Checking Services for a US-based Insurance Service Provider
Flatworld Solutions fully scrutinized policies for a US client because the client was overwhelmed by policy backlog as soon as they expanded.
FWS Streamlined Back-office Solutions for a California-based Client
A based out of US client suffered from an unforeseen bottleneck triggered by business growth. Flatworld optimized the back-office functions by becoming cognizant of their concerns.
Outsource P and C Insurance Back Office Support to Flatworld Solutions
Insurers today are faced with ever-increasing claims related to properties due to a significant increase in natural catastrophes. Aging legacy systems and growing customer demands further complicate the situation for insurers. At FWS, we believe that automation, AI, and analytics can help tackle these situations while allowing you to improve your business processes with our insurance solutions.
Our 20 years of experience coupled with responsive services are ideal for a company that is exploring ways to outsource to a digital-first service provider with an acute understanding of the market. You can reach us via your preferred means and experience the superb and friendly response within 24 hours.
Contact us right now and learn more about our insurance claims management services, the processes, and custom plans.